China Universal Asset Management Co. Ltd. Takes $725,000 Position in JOYY Inc. (NASDAQ:YY)

China Universal Asset Management Co. Ltd. acquired a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the information services provider's stock, valued at approximately $725,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC purchased a new position in shares of JOYY in the second quarter valued at $29,000. Blue Trust Inc. increased its position in shares of JOYY by 22,728.6% during the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider's stock valued at $49,000 after purchasing an additional 1,591 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in JOYY during the second quarter valued at approximately $52,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider's stock valued at $79,000 after acquiring an additional 300 shares during the period. Finally, Headlands Technologies LLC grew its stake in JOYY by 967.6% during the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider's stock valued at $120,000 after acquiring an additional 3,551 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

NASDAQ YY traded down $0.76 on Wednesday, reaching $33.82. The stock had a trading volume of 294,014 shares, compared to its average volume of 486,913. The company has a market cap of $2.01 billion, a P/E ratio of 6.37 and a beta of 0.24. The firm has a fifty day moving average of $35.04 and a two-hundred day moving average of $33.33. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $43.20.

JOYY (NASDAQ:YY - Get Free Report) last posted its earnings results on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.81 by $0.27. The firm had revenue of $565.13 million during the quarter, compared to the consensus estimate of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. Research analysts predict that JOYY Inc. will post 3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

YY has been the topic of several analyst reports. Benchmark reiterated a "hold" rating on shares of JOYY in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, September 3rd.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.